Gulfmark Offshore delays delivery of PSV from Simek shipyard

NYSE-listed Gulfmark Offshore has delayed the delivery of a newbuilding under construction at Norway’s Simek shipyard by 11 months.

The vessel, which is being built for use in the North Sea, will now hit the water in January 2017 rather than in February 2016, as previously scheduled.

The company did not disclose the specific vessel to be delayed, but shipyard data shows Gulfmark has a 4,700-dwt platform supply ship on order at the Simek yard, which is located at Flekkefjord. The contract was signed in April 2014.

Gulfmark has already paid 20% of the contract price (around $8.25m) and says it has rescheduled the remaining payments.

Rather than making the planned balloon payment of $33m on delivery, Gulfmark says it will pay approximately $2m this quarter, $5m in the first quarter of 2016, $4m in the second quarter and $22m in the first quarter of 2017 upon the vessel’s delivery.

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.